Moneycontrol
Last Updated : Feb 02, 2019 04:00 PM IST | Source: Moneycontrol.com

NDA govt gives an honest budget, does not adjust numbers: Piyush Goyal

Goyal said while the government has been "prudent" on financial expenditure, the capital expenditure "needs greater thrust"

Moneycontrol News @moneycontrolcom

Interim Finance Minister Piyush Goyal, while speaking to CNBC-TV18 on February 1, said the National Democratic Alliance (NDA) government "does not adjust numbers" and "gives an honest budget".

Goyal, who presented the interim Union Budget earlier in the day, said India might end up with a 3.2 percent fiscal deficit with the revised GDP numbers.

"It may be even 3 percent next year," Goyal said.

Speaking on the Pradhan Mantri Kisan Samman Nidhi proposed during the budget, Goyal said the agriculture package is a "sustainable scheme" and it is a "mark of respect for farmers".

"The government wants farmers to have much larger incomes... we will ensure that Rs 7.5 lakh crore is transferred to farmers," Goyal said, adding that the scheme is for the current year.

Talking about the proposed offer on the tax rebate for individuals earning up to Rs 5,00,000 under Section 87A of the Income Tax Act, Goyal said the government wanted to make tax planning "convenient" for people.

"We wanted to ensure certainty for the small taxpayers," Goyal said.

In an earlier interview, the Finance Minister had said that "over three crore people will benefit from this scheme" but that the government will be able to provide the final data only "when the final tax returns of next year come".

Also Read: Budget 2019 effect: How you can earn tax-free Rs 10 lakh per annum 

Goyal also said "no bank is complaining about liquidity". "Liquidity has improved significantly over the last 35-40 days," he added.

Goyal said while the government has been "prudent" on financial expenditure, the capital expenditure  "needs greater thrust".

The Finance Minister emphasised that the government's focus has been on providing basic amenities and that it is "conscious of economic viability".
First Published on Feb 1, 2019 08:05 pm
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